U.S. equity markets rallied Thursday after the Federal Reserve’s plan to provide $2.3 trillion in lending to households and businesses overshadowed a surge in jobless claims.
The Dow Jones Industrial Average rose 285 points, or 1.22 percent, narrowly missing gains that would have registered the index’s best week since 1938. The S&P 500 and Nasdaq Composite were higher by 1.45 percent and 0.77 percent, respectively.
U.S. financial markets are closed Friday in observance of Good Friday. The benchmark S&P 500 on Wednesday exited its bear market that began on March 12, making it the second shortest in history.